Updated at 14:58,21-10-2016

Belneftekhim Raises Fuel Prices Again

17-10-2011, 15:16
Belneftekhim Raises Fuel Prices Again

October 16, concern Belneftekhim once again raised the prices of petroleum products sold at gas stations. Petrol price increased by an average of 3%, diesel fuel - by 5.1%, the company said.

Gasoline Normal-80 now costs Br4.740 per liter, gasoline AI-92 - Br4.970, AI-95 gasoline and diesel fuel - Br5.360.

"Revision of prices of petroleum products was carried out to improve the efficiency of oil refineries," stated in Belneftekhim.

The concern referred to the decision of the National Bank № 368 "About purchase and sale of foreign currency on the domestic fx market," adopted on September 7, 2011. The document stipulates that the Belarusian oil refineries buy hard currency to purchase crude oil at an additional trading session on the Belarusian Currency and Stock Exchange at prevailing market rates. (As the Deputy Prime Minister of Belarus Sergei Rumas announced on October 15, trading on the stock exchange will be implemented within a single session on October 20. However it is unclear how this decision will affect the prices of petroleum products.)

Thus, the petrol price has increased for the ninth time this year and the second time for a month. The previous price increase occurred on October 1 (by 5%). Prior to that gasoline price went up on September 14, August 20 and July 21 (by 3% each time). Fuel became 30% more expensive on June 7, which triggered protests of motorists. Therefore, the country's president ordered to reduce the prices on June 9 (they were reduced by 13-22%). Earlier, May 24, petrol price increased by 20%, while March 31- by10% and March 3 – by 5%.